Schaeffer's Trading Floor Blog
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We head into the second half of the session with the Dow Jones Industrial Average (DJIA) sitting near the breakeven line. The S&P 500 (SPX), Nasdaq Composite (COMP), and Russell 2000 (RUT) are more or less unchanged. After three days of frenetic behavior, today feels uncharacteristically quiet. The Dow has traded in a low-to-high range of only 81 points. The morning lows were capped at a loss of 49 points while the sequent rebound ran out of steam with a gain of just 32 points.

Chart Courtesy of Thomson Reuters

Most of the sector action is quiet as well. Today's strongest group is the US Oil Fund (USO). The PowerShares Clean Energy ETF (PBW) is the weakest area. Those are the only two areas from my list to move 1%.

Novatel Wireless, Inc. (NASDAQ:NVTL) and Akamai Technologies, Inc. (NASDAQ:AKAM) are among the stocks seeing unusual option volume so far today.

Click image to see live data from in our Options Center

Novatel Wireless tops today's list with total option volume that is 13 times the average. Shares of NVTL are down 9% after the company offered disappointing comments. The option activity is decidedly skewed to the call side. Meanwhile, Akamai Technologies is up 2% with 78% of the option activity on the call side.

I ended yesterday talking, once again, about the lack of near-term levels. With today's mild movement, nothing has changed on that front, obviously. As they stand now, the broad market indexes are sitting on minor losses for week and mild-to-moderate gains on the month. I will have final figures after the close.

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